For every European Patent Attorney it is important to know who covers in situations where a client claims for damages due to an alleged professional mistake. For those who work as employees in industry, this risk is in most cases covered by the employer. For those who work in private practice, it is recommended to have a professional liability insurance for such situations. In some countries there is even a legal obligation to have a professional liability insurance for the national patent attorney profession.
In line with decisions of the epi Council epi has negotiated and agreed a framework contract for a professional liability insurance setting out general principles and conditions applicable in all 38 EPC countries. Any epi member, who offers IP services to external clients can benefit from this insurance.
In order to obtain coverage, an epi member needs to sign, individually or for his patent law firm/partnership, a contract with the broker/insurer who will also be responsible for all administrative and payment aspects of the insurance.
The epi is happy to cooperate in this area with strong partners, the insurance broker RMS Risk Management Service Ltd. and the insurer Lloyd’s of London.
We are pleased to present IPRISK as personalized solution for a professional liability insurance for your activities as European Patent Attorney.
Advantages for epi members:
- Solution specially designed for the needs of epi members working in free profession
- However, free profession activities of epi members working in industry could also be insured
- Insurance coverage can be selected between EUR 500.000 and EUR 5 millions per incident and member
- Omissions and errors of support staff is covered by insurance
- Flexible options to include also patent work before national patent offices in Europe
- Additional cover for trademark and design work possible
- Tailored to provide protection for typical activities of European Patent Attorneys
- Competitive conditions and premiums
- Possibility to cover also liability claims emanating from incidents in the past (retroactive cover)
- One single insurance concept in all 38 EPC countries with strong partners who know our profession
- Covers legal claims against individual epi members as well as against partnership of epi members
Further details are available in the members area of the website (after login).
If you are interested to obtain an offer for this IPRISK insurance, supported by the epi, please login onto the epi website in order to access the appropriate questionnaire and receive further information.